Hong Kong’s Securities and Futures Commission, or SFC, has signed a new memorandum of understanding with the Accounting and Financial Reporting Council, or AFRC, to expand regulatory cooperation into the financial reporting of licensed corporations and funds. According to the SFC, the new arrangement broadens the scope of coordination between the two regulators beyond their existing work and places added focus on oversight of financial disclosures made by relevant entities. The stated aim is to strengthen supervision of financial information disclosure, improve market transparency, and enhance investor protection in Hong Kong’s financial market framework. The update was cited by Techub News, referencing the Hong Kong SFC.
Hong Kong’s Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC) have signed a new memorandum of understanding to expand their regulatory cooperation into the financial reporting of licensed corporations and funds.
According to the Hong Kong SFC, the move is intended to strengthen oversight of financial information disclosures by relevant entities, improve market transparency, and enhance investor protection.
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